Interim Results Announcement for the six months ended 30 June 2015

30th September 2015 - 9:08 am

ImmuPharma PLC (LSE:IMM), (“ImmuPharma” or the “Company”), the specialist drug discovery and development company, is pleased to announce its interim results for the six months ended 30 June 2015 (the “Period”).

Although we are pleased to report our interim results, we are saddened by the passing of our Chairman, Richard Warr, in late July.

 

Key Highlights (including post-Period): 

 

Lupuzor™ 

  • Phase III pivotal trial has started with development partner Simbec-Orion
  • Registration live with the US National Institute of Health with progress trackable on ClinicalTrials.gov website
  • A new patent has been filed (co-owned with CNRS) to cover other autoimmune indications – some of which have the potential for Orphan Drug designation

 

Nucant program IPP-204106 

  • The Phase I/IIa results confirmed that ImmuPharma, from a regulatory perspective, can commence Phase II studies in pancreatic cancer and other indications using an authorised dose
  • Nucant program has shown modulation of angiogenesis with multiple indications in addition to cancer
  • Grant funded preclinical study of ophthalmological indication of age-related macular degeneration underway
  • Composition of matter patent provides longer exclusivity, additional protection of the Nucant program and a multitude of other indications in addition to cancer

 

Peptide Technology Collaboration Platform 

  • In collaboration with CNRS, Institut National de la Santé et de la Recherche Medicale (INSERM) and the Institut Européen de Chimie et Biologie (IECB) at the University of Bordeaux, ImmuPharma filed a new patent controlling a breakthrough peptide technology called Urelix™
  • Allows the mimicry of long natural peptides in the configuration used to bind their receptor

 

Further notable events: 

  • Appointment of Tim McCarthy as Non-Executive Chairman (see separate announcement)
  • Dr Stephane Mery was appointed as Non-Executive Director
  • Dr Sylviane Muller, inventor of Lupuzor™, awarded Centre National de la Recherche Scientifique (CNRS) Medal of Innovation for work on both Lupuzor’s™ mechanism of action and its applicability to other autoimmune indications
  • ImmuPharma was awarded the New Economy Award for Most Innovative Drug Licensing and Development Company

 

 Financials 

  • Cash position as at 30 June 2015 of £3.29m (H1 2014: £5.18m)
  • Term sheet signed for a proposed financing of up to $14 million – final agreement under negotiation.
  • Loss for the Period of £1.54m (H1 2014: £1.83m)
  • Basic and diluted loss per share of 1.74p (H1 2014: 2.23p)

Commenting on the highlights, Dimitri Dimitriou, Chief Executive Officer said: 

“2015 has been a year of many changes for the Company. We entered into a collaboration with a prestigious development organisation, Simbec-Orion and started the pivotal Phase III trial for Lupuzor™. We strengthened the Board and our team of advisors. Of important significance we were honoured by the award of a prestigious medal to the inventor of Lupuzor™, with the discovery of new molecules and new potential indications for Lupuzor™. Finally, we sadly lost our Chairman and good friend, Richard Warr.”

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